Fortis Healthcare Ltd has informed BSE that The Board of Fortis Healthcare International Pte Ltd, a step down subsidiary of Fortis Healthcare Ltd (Fortis) based out of Singapore has decided to disinvest 100 % shareholding in Fortis Healthcare Singapore Pte Ltd which holds and operates "Fortis Surgic... more

Fortis Healthcare Ltd has informed BSE that The Board of Fortis Healthcare International Pte Ltd, a step down subsidiary of Fortis Healthcare Ltd (Fortis) based out of Singapore has decided to disinvest 100 % shareholding in Fortis Healthcare Singapore Pte Ltd which holds and operates "Fortis Surgical Hospital" to Concord Medical Services (International) Pte Ltd (CCM), for a consideration of SGD 55 Mn. The deal is expected to be completed on or about April 06, 2015.
In this regard, the Company has submitted to BSE a copy of Press Release March 27, 2015, titled "Fortis finalises sale of its Singapore Hospital to Concord Medical Services (International) Pte Ltd for SGD 55 Mn".less

Sensex started on a cautious note on Monday following muted trend seen in other Asian markets and was trading in a range...

Divestment of RadLink - Asia Pte Limited| Announcement

13 Mar,2015, 04:03PM IST

With reference to the earlier announcement regarding Fortis to realise value from divestment of stake in RadLink-Asia Pte Ltd to Medi-Rad Associates Ltd for SGD137,000,000, Fortis Healthcare Ltd has now informed BSE that the Companys step down subsidiary at Singapore, Fortis Healthcare Singapore Pte... more

With reference to the earlier announcement regarding Fortis to realise value from divestment of stake in RadLink-Asia Pte Ltd to Medi-Rad Associates Ltd for SGD137,000,000, Fortis Healthcare Ltd has now informed BSE that the Companys step down subsidiary at Singapore, Fortis Healthcare Singapore Pte. Ltd has received a decision from the Competition Commission of Singapore wherein following a review of the proposed transaction, involving the acquisition of RadLink- Asia Pte Limited and its subsidiaries by Medi-Rad Associates Ltd, an indirect wholly owned subsidiary of IHH Healthcare Berhad, the regulator (Competition Commission of Singapore) has indicated that it the proposed transaction is completed as contemplated, the combination may result in lessening of competition in the relevant market in Singapore.
Consequently, Fortis will continue to explore alternate strategic opportunities related to RadLink and any significant decision around that shall be promptly intimated to exchanges.less

About Fortis Healthcare Ltd.

Fortis Healthcare Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 7,615.46 Cr.) operating in Pharmaceuticals and health care sector.

Fortis Healthcare Ltd. key Products/Revenue Segments include HealthCare Services which contributed Rs 346.48 Cr to Sales Value (93.28% of Total Sales), Other Operating Revenue which contributed Rs 13.42 Cr to Sales Value (3.61% of Total Sales), Pharmaceuticals which contributed Rs 10.09 Cr to Sales Value (2.71% of Total Sales), Lease Rentals which contributed Rs 1.17 Cr to Sales Value (0.31% of Total Sales), Export Incentives which contributed Rs 0.24 Cr to Sales Value (0.06% of Total Sales), for the year ending 31-Mar-2014.

For the quarter ended 31-Dec-2014, the company has reported a Standalone sales of Rs. 143.73 Cr., down -5.91% from last quarter Sales of Rs. 152.76 Cr. and up 70.62% from last year same quarter Sales of Rs. 84.24 Cr. Company has reported net profit after tax of Rs. -9.95 Cr. in latest quarter.

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